GRE Business Report: January 6th

GRE Business Report: January 6th

The Senate is set to vote on President Obama's pick to head the Federal Reserve. Janet Yellen, currently the vice chair, is expected to be confirmed. Yellen would be the first woman to chair the central bank. She would succeed Ben Bernanke once his term expires at the end of the month.

AT&T is offering T-Mobile customers a deal worth up to $450 to switch carriers. The wireless company says it will give T-Mobile subscribers a $200 credit per phone line, plus up to $250 for their smartphones if they switch to AT&T. The smaller T-Mobile has shaken up the cell phone industry with several new programs, including its "uncarrier" strategy that eliminated contracts. AT&T now seems to be fighting back by appealing to T-Mobile customers' wallets.

Cheerios is going non-GMO. General Mills says it is now making the original Cheerios without ingredients containing genetically modified organisms. Some consumers are concerned about the health and environmental impacts of GMOs, although they have not been proven harmful scientifically. The main ingredient in original Cheerios is oats. GMO oats do not exist yet. The change comes in the sugar and cornstarch. It only applies to the original flavor Cheerios and not the other varieties such as Honey Nut Cheerios.

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